Rivigo was an Indian technology-enabled logistics company headquartered in Gurugram, founded in 2014 by Deepak Garg and Gazal Kalra (both former McKinsey consultants). The company became known for pioneering a 'relay trucking' model, in which drivers handed off trucks at pit-stops every few hours so they could return home daily, enabling faster long-haul transit times across India. Rivigo offered B2B express, full-truckload (FTL), part-truckload, and cold-chain logistics services for e-commerce, pharmaceuticals, automotive, and FMCG customers. After raising more than $300M from investors including Warburg Pincus and Elevation Capital (formerly SAIF Partners) and reaching unicorn status in 2019 at a $1.05B valuation, Rivigo struggled with high cash burn, an asset-heavy fleet, and the impact of COVID-19. In November 2022, Mahindra Logistics' subsidiary MLL Express Services acquired Rivigo's B2B express business, technology platform, and the Rivigo brand for approximately Rs 225 crore (~$28M) in a fire-sale transaction; the residual entity retained the FTL truck fleet.
Rivigo has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2014
Employees
1,001–5,000
Total Funding
$242.13M
7 rounds
Latest Valuation
$1.05B
August 3, 2022
Total raised $242.13M across 7 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Series E
Date
July 11, 2019
Amount
$65M
Valuation
$1.05B
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| August 3, 2022 | Series H | $2.03M | — | Elevation Capital |
| December 2019 | Series F | $20M | — | Spring Canter Investment Ltd, SAIF Partners |
| July 11, 2019 | Series E | $65M | $1.05B | KB Global Platform Fund, KB Investment |
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Valuation indexed to 1.0× at the selected entry round. Valuation marks are estimates and may contain errors. Hover each dot to compare.
Entry · Series D
$1B
Dec 2017
Rivigo today
$1.1B
Jul 2019 · latest mark
Rivigo multiple
1.1x
valuation uplift since first round
Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.
Deepak Garg
Co-Founder & former CEO (2014-2022)
Gazal Kalra
Co-Founder
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Delhivery
Listed Indian integrated logistics company offering express parcel, PTL, FTL, and supply-chain services; closest publicly listed peer to Rivigo's B2B express business.
BlackBuck
Bengaluru-based online trucking platform connecting shippers with truck operators across India for FTL freight.
TCI Express
Listed Indian B2B express logistics provider focused on time-definite surface and air parcel delivery.
Gati
Indian express distribution and supply-chain solutions company (Allcargo Group), competing in B2B surface express.
Mahindra Logistics
Listed Indian 3PL and supply-chain solutions company that ultimately acquired Rivigo's B2B express business in 2022.
Ecom Express
Indian end-to-end logistics provider focused on e-commerce parcel and B2C delivery, with overlapping express network coverage.
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